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INDIANA RESOURCES LIMITED Board/Management Information 2021

Feb 2, 2021

65098_rns_2021-02-02_25979429-97b8-4595-a44d-acc54ff09f60.pdf

Board/Management Information

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ASX: IDA

3[rd] February 2021

Appointment of GM to Lead Gawler Craton Exploration

Highlights

Highly experienced geologist Gary Ferris appointed as General Manager – Exploration
Mr Ferris adds significant technical and regional experience, allowing Indiana to ramp-up activity across its 5,090km² tenement holding in the Central Gawler Craton
Indiana’s extensive ground position contains several advanced to early stage targets proximal to existing gold mines and major discoveries
Recent drilling completed at Minos to be followed up with an expanded drill programme

Indiana Resources Limited (ASX: IDA) (“ Indiana ” or the “ Company ”) is pleased to announce the appointment of Mr Gary Ferris as General Manager – Exploration effective 8[th] February 2021. Mr Ferris will lead all exploration planning and activity across Indiana’s 5,090km² project area in the Central Gawler Craton region of South Australia.

Mr Ferris will initially focus on reviewing Indiana’s existing data set that has highlighted several prospects, many of which are proximal to existing gold mines and major discoveries. With strong potential for further greenfield discoveries identified, Mr Ferris will develop a comprehensive exploration strategy for the next 12 months which will include further drilling at existing prospects and further surface sampling, geological mapping and geophysical surveys to generate additional targets within the tenement package for future drilling programs.

Mr Ferris brings an extensive career in the resources sector, encompassing executive and senior leadership roles spanning exploration, project evaluation and acquisition, resource development, metallurgy and mining. As a geologist with over twenty-five years’ experience, Mr Ferris holds a master’s degree in Exploration Geoscience from the University of Tasmania and a Bachelor of Science Honours (Geology) from the University of Adelaide. Mr Ferris also spent fourteen years with the South Australian Geological Survey, many of which were focussed on the geology and mineral potential of the Gawler Craton.

Company Comment

Indiana’s Executive Chairman Bronwyn Barnes said “Gary’s extensive technical expertise and solid track record of exploration success with a focus in South Australia is a welcome addition to the Indiana team. I look forward to Gary taking the lead as we ramp-up our gold exploration activities across our extensive 5,090km² tenement portfolio in the Central Gawler Craton. Mr Ferris is located in South Australia, which also provides Indiana with added flexibility and mitigates the risk of exploration delays due to potential border closures and Covid-19 restrictions.”